Consolidated Planning Corp Sells 5,599 Shares of Marathon Petroleum Co. (NYSE:MPC)

Consolidated Planning Corp cut its stake in shares of Marathon Petroleum Co. (NYSE:MPC) by 14.1% in the fourth quarter, Holdings Channel reports. The fund owned 34,179 shares of the oil and gas company’s stock after selling 5,599 shares during the period. Consolidated Planning Corp’s holdings in Marathon Petroleum were worth $4,768,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gladius Capital Management LP acquired a new position in Marathon Petroleum in the third quarter valued at about $26,000. MeadowBrook Investment Advisors LLC raised its stake in shares of Marathon Petroleum by 88.9% in the third quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 80 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 148 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Marathon Petroleum during the 3rd quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC acquired a new stake in Marathon Petroleum during the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 76.77% of the company’s stock.

Insider Buying and Selling

In other Marathon Petroleum news, Director Jeffrey C. Campbell acquired 6,000 shares of Marathon Petroleum stock in a transaction dated Wednesday, December 4th. The stock was bought at an average cost of $149.61 per share, for a total transaction of $897,660.00. Following the purchase, the director now directly owns 6,090 shares in the company, valued at approximately $911,124.90. This represents a 6,666.67 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

Marathon Petroleum Stock Down 3.9 %

Marathon Petroleum stock opened at $149.26 on Thursday. The company has a 50 day moving average of $145.84 and a 200-day moving average of $157.27. The company has a quick ratio of 0.76, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The stock has a market capitalization of $47.97 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 2.91 and a beta of 1.41.

Marathon Petroleum (NYSE:MPC) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.71. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $31.94 billion. Marathon Petroleum had a return on equity of 12.07% and a net margin of 2.45%. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.98 earnings per share. On average, equities research analysts anticipate that Marathon Petroleum Co. will post 8.7 EPS for the current fiscal year.

Marathon Petroleum announced that its board has initiated a stock repurchase program on Tuesday, November 5th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 10% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Marathon Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 19th will be given a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Wednesday, February 19th. Marathon Petroleum’s dividend payout ratio is presently 36.66%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Tudor Pickering upgraded Marathon Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 4th. Bank of America assumed coverage on shares of Marathon Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $174.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of Marathon Petroleum from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Raymond James increased their price objective on Marathon Petroleum from $190.00 to $192.00 and gave the company a “strong-buy” rating in a research report on Friday, January 17th. Finally, Barclays cut their price target on Marathon Petroleum from $168.00 to $159.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Marathon Petroleum has a consensus rating of “Moderate Buy” and an average price target of $181.27.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.